Consumer staples, pharma, IT & telecom stocks better-placed to weather Covid storm: Jigar Shah

Companies with a strong balance sheet and cash flow do well in exceptional situations, says CEO of Maybank Kim Eng Securities India.

I was looking at your note which made a point that the market is fragile and you look at the Nifty fair value at around 8,000. Talk to us about your argument and how do you read the Street reaction to all the announcements that are in?
Just jumping on to the announcements for the package and the Street reaction first. I think the Street is disappointed because demand creation measures are not there or direct support on a budget is on the lower side. So there are many good reform measures taken for the medium- to long-term but the short-term demand boost is not there. So that is clearly the reason for disappointment. Obviously, in this scenario, banks and the financial sector are going to be a big sufferer.